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Bloomberg A Greek shipowner is predicting new rules for marine fuel will put thousands of the world’s merchant vessels out of business in the next two years, roiling global trade. In fact, he’s wagering $1.1 billion on it. Evangelos Marinakis, chairman of Capital Maritime & Trading Corp., based near Athens, says his company has invested that much in the last ...

Bloomberg The United Nations Security Council unanimously approved new sanctions targeting North Korea’s economy following the launch of a ballistic missile last month that Kim Jong Un’s regime said shows it can now target the entire continental US. A week after US Secretary of State Rex Tillerson called out Russia and China for their support of Kim Jong Un’s regime, ...

Washington / Reuters A US Appeals court said President Donald Trump’s hotly contested travel ban targeting people from six Muslim- majority countries should not be applied to people with strong US ties. The 9th US Circuit Court of Appeals, which covers several West Coast states, also said its ruling would be put on hold pending a decision on the latest ...

Bloomberg UK Prime Minister Theresa May refused to rule out running for another term in 2022 as she shrugged off suggestions that 2017 has been the worst year of her political career. May lost her Conservative Party’s majority after calling a snap general election in June and has seen three cabinet ministers forced out of office. Britain also experienced a ...

Bloomberg US Vice President Mike Pence paid an unannounced visit to Afghanistan, a nation where the Trump administration has stepped up involvement in what’s become America’s longest war. Pence told the troops that “victory is closer than ever before,” adding that US arm- ed forces will remain in Afghanistan until the threat to the homeland is eliminated. Before the rally ...

Bloomberg Deposed Catalan President Carles Puigdemont demanded the Spanish government recognise his victory in regional election and drop an arrest warrant, to let him end a self-imposed exile in Belgium and return to power. Prime Minister Mariano Rajoy refused. He said only the courts could deal with arrests and if he should meet anyone, it’s the head of the pro-Spain ...

What I most dislike about the Trump/ Republican tax plan is the shameless cynicism with which it has been peddled. Recall how it works: The government borrows $1.5 trillion over a decade and instantly uses that money to cut taxes for major constituencies — workers, families, small businesses and big companies. The handouts aim to buy votes. This is borrowing ...

For retailers, December isn’t just the holiday shopping season. It’s also holiday return season, when consumers decide to send back all the stuff that didn’t fit, work or meet expectations. It’s an expensive ritual. According to the National Retail Federation, returns account for around 8 percent of total annual retail sales. Online retailers face an even heavier burden, with returns ...

Chuck Norris didn’t dial the wrong number; you answered the wrong phone. So the old joke goes about the paragon of omnipotence in the Walker, Texas Ranger television show. As the year draws to a close, it’s time to check in and see what Chuck might make of the current world of business and finance. Here goes: Chuck’s global macro ...

For all the flaws of the Jones Act — the 1920 legislation requiring that all maritime commerce between US ports take place on ships owned, built and crewed by Americans — there’s no faulting its professed goal. The US needs a thriving maritime sector, for both economic and military reasons. The best way to achieve this is to lift the ...